Washington County Real Estate and Livability Trends
Washington County, Virginia's median home values jumped from $130,200 in 2015 to $181,000 in 2022, trailing Virginia's state average but edging past the national median. Noticeable are the real estate taxes, doubling from $1,824.03 in 2012 to $3,148.89 in 2021, potentially impacting overall property costs. Highlighting the county’s evolving focus on energy efficiency, energy tax credits reached... Read more
Washington County Market Trends
Washington County, Virginia has seen median home values rise from $130,200 in 2015 to $181,000 in 2022, noticeably below Virginia's state average but slightly above the national median. Energy tax credits in the county surged to an average $1,385.00 per return in 2021, indicating a growing focus on energy-efficient home improvements. Real estate taxes also climbed, from $1,824.03 in 2012 to... Read more
Median Value of Occupied Housing Units in Washington County, Virginia Over the Last 8 Years
Over the last eight years, median home values in Washington County, Virginia have shown a consistent upward trend, escalating from $130,200 in 2015 to $181,000 in 2022. While this upward trajectory is impressive for the county, it still trails behind Virginia's state-level median values, which surged from $245,000 to $339,800 during the same period. Compared to the national median, which increased from $125,500 to $179,400, Washington County's growth happens to be slightly higher but remains significantly lower in absolute terms than Virginia's averages, highlighting an attractive entry point for potential investors and homebuyers aiming to leverage lower initial investment costs while still benefiting from promising value appreciation.
Residential Energy Tax Credit Per Tax Return in Washington County, VA Over the Last 9 Years
Washington County, Virginia has observed a fluctuating but ultimately increasing trend in the average residential energy tax credit per tax return over the past nine years. Starting at $465.96 in 2013 and peaking significantly at $1385.00 in 2021, the credits indicate a growing investment in energy-efficient home improvements. This trend is likely driven by increasing awareness of and incentives for sustainable living, potentially making the area more attractive for eco-conscious homebuyers and investors. Real estate agents and property developers could find this data useful when highlighting the financial benefits of energy efficiency to prospective clients.
Average Real Estate Taxes Per Tax Return in Washington County, VA Over the Last 10 Years
Over the past decade, Washington County, Virginia has seen a consistent increase in average real estate taxes per tax return. Starting at $1,824.03 in 2012, the amount climbed steadily, reaching $3,148.89 in 2021. Notably, there was a significant jump between 2017 and 2018, suggesting a potential re-evaluation or policy change. This upward trend may impact decisions for potential investors, developers, and real estate professionals considering the area, as higher real estate taxes could influence overall property costs and valuations.
Percentage of Farm Returns in Washington County, VA Over the Last 10 Years
Over the last decade, Washington County, Virginia has seen a subtle yet steady decline in the percentage of farm tax returns from around 5.9% in 2012 to approximately 5.0% by 2021. Farm tax returns represent the portion of tax filings directly associated with agricultural income and activities, providing insight into the vitality and scale of local farming economies. This downward trend might suggest shifts in land use, economic challenges in farming, or changes in local agricultural industries, which could be crucial for potential investors or developers considering rural and agricultural properties.
Number of Mortgages by Occupancy Type in Washington County, VA Over the Last 5 Years in Washington County
Washington County, Virginia has seen some intriguing changes in mortgage counts by occupancy type over the last five years. Mortgages for principal residences consistently dominate, peaking in 2021 with 2,547 compared to a lower 1,584 in 2018. Investment property mortgages have shown a steady increase, reaching their highest at 138 in 2022. Second residence mortgages remain relatively stable, with minor fluctuations. These shifts highlight changing dynamics that investors, real estate agents, and other stakeholders should note. A surge in mortgages for principal residences suggests heightened demand for primary homes, which could affect property values and market competition. The rise in investment properties may indicate growing interest in rental opportunities or property flipping, while the stable second residence numbers reflect a consistent demand for vacation homes. Understanding these trends can help inform decisions related to property development, appraisals, and insurance risk assessments.
Economic Outlook
Washington County, Virginia's average taxable income per tax return hit $68,238.32 in 2021, reflecting steady economic growth over the past nine years. This upward trend could signal increased property values and reduced risk perceptions for homebuyers and insurance agents. Despite fluctuation, state and local income taxes saw a sharp rise from $7,379.81 in 2017 to $13,969.79 in 2021, possibly due to higher incomes or changing tax policies. The total tax liability per tax return also varied,... Read more
Average Taxable Income per Tax Return in Washington County, VA over the last 9 years
Washington County, Virginia has seen a notable and somewhat steady increase in average taxable income per tax return over the last nine years, especially peaking in 2021 with an impressive $68,238.32. This sustained upward trend highlights a growth in economic health which might be attractive for potential investors and real estate developers considering the area. Homebuyers and insurance agents could view this as a sign of economic stability, potentially enhancing property values and lowering risk perceptions. Although there were minor fluctuations, the general rise might indicate positive local economic policies or growing industries.
Average State and Local Income Taxes Per Tax Return in Washington County, VA Over the Last 10 Years
Washington County, Virginia has seen significant fluctuation in state and local income taxes per tax return over the last decade, with notable increases in recent years. For example, from 2017 to 2021, average taxes rose sharply from approximately $7,379.81 to $13,969.79. This trend reflects either increased income levels, shifting tax policies, or both, which could impact various stakeholders such as investors, real estate agents, and prospective residents. The steep rise in tax amounts might indicate robust economic growth or changes in tax legislation, making the area both challenging and potentially rewarding for investment and real estate activities.
Average Total Tax Liability Per Tax Return in Washington County, VA Over the Last 10 Years
Average total tax liability per tax return in Washington County, Virginia has experienced variability over the last decade. While 2013 saw a dip to about $8,197.93, the highest recorded average was in 2021 with $10,299.06. Noteworthy peaks such as in 2017 and 2019 with $9,319.89 and $8,876.38 respectively, suggest fluctuating economic conditions or policy changes impacting tax liabilities. For anyone considering investments, property developments, or moving to this area, understanding these tax trends may offer valuable insights into economic stability and tax planning.
Cost of Living in Washington County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,075 | $1,464 | $1,545 | $1,301 | $1,141 |
| 1 adult 4 children | $1,075 | $1,195 | $1,178 | $1,301 | $1,264 |
| 2 adults 3 children | $1,075 | $1,196 | $1,342 | $1,301 | $930 |
| 1 adult 3 children | $1,075 | $976 | $975 | $1,301 | $1,002 |
| 2 adults 2 children | $819 | $979 | $1,139 | $1,127 | $790 |
| 1 adult 2 children | $819 | $731 | $772 | $1,127 | $752 |
| 2 adults 1 child | $819 | $774 | $936 | $564 | $722 |
| 1 adult 1 child | $819 | $500 | $569 | $564 | $634 |
| 2 adults | $647 | $622 | $733 | $0 | $600 |
| 1 adult | $602 | $339 | $367 | $0 | $532 |
Safety trends & Data
Washington County, Virginia has seen a mixed trend in property crimes over the last five years. While Larceny-Theft incidents dropped from 263 in 2018 to 180 in 2022, Burglary cases spiked to 35 in 2019 before leveling off at 25 annually. Motor Vehicle Theft has slightly risen, with 19 incidents in 2022. Offenses like Forgery and Counterfeiting peaked at 22 in 2020 but fell sharply to just 5 by 2022. This variability in crime stats could influence decisions for investors, real estate agents,... Read more
Property Crime Trends in Washington County, VA Over the Last 5 Years
Washington County, Virginia has shown a fluctuating trend in property crimes over the past five years, with notable increases and decreases in specific crime categories. Larceny-Theft remains the most prevalent crime but has seen a decrease from 263 incidents in 2018 to 180 in 2022. Burglary saw a significant increase in 2019 with 35 cases but has stabilized to 25 cases annually in recent years. Motor Vehicle Theft slightly increased, reaching 19 incidents by 2022. Offenses like Forgery and Counterfeiting spiked in 2020 with 22 cases but significantly dropped to just 5 by 2022. Fraud cases have also shown a slight decrease over this period. These trends could be critical for investors, real estate agents, appraisers, insurance agents, and prospective residents when considering the stability and security of the area.
Demographics
Washington County, Virginia, shows an almost equal split between men and women, with just a slight edge for females. The population skews older with a significant portion aged 55 and above, which could imply a potentially higher demand for healthcare services and retirement facilities. Educational attainment is varied, but high school graduates form the largest chunk, while bachelor’s and higher degrees are less common. This suggests potential gaps in higher education that businesses and... Read more
Race Distribution in Washington County, Virginia (2022)
Educational Attainment in Washington County, Virginia (2022)
Age Distribution in Washington County, Virginia
Citizen Population in Washington County, Virginia (2022)
Political Trends & Data
Washington County, Virginia exhibited a striking conservative preference in the 2020 U.S. Presidential Election, with Republicans securing around 75.6% of the vote, while Democrats garnered approximately 23.1%. Such a notable disparity indicates a robust conservative base, which could shape future political strategies and policies at both the state and local levels. The minimal support for Libertarian and other minor parties highlights a predominantly two-party contest, reflecting the county's... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Washington County in Virginia showed a dominant leaning towards the Republican party, which garnered approximately 75.6% of the vote in the 2020 U.S. Presidential Election. The Democratic party received about 23.1%, suggesting a substantial gap between the two major parties. Libertarian and other minor parties collectively accounted for a small fraction of the vote, indicating limited support. This voting pattern might imply a strong conservative presence in the area, possibly influencing future political strategies and policy considerations for both state and local elections.
75.56% of voters voted for the Republican party in the 2020 Presidential Election
23.06% of voters voted for the Democrat party in the 2020 Presidential Election
1.06% of voters voted for the Livertarian party in the 2020 Presidential Election
0.32% of voters voted for the Other party in the 2020 Presidential Election
School Data
Washington County, Virginia has seen a notable decrease in its student-to-teacher ratio, dropping to 11 students per teacher in 2022, below the national average of 14. This trend suggests smaller class sizes, which might draw parents and educators looking for more personalized education. For real estate investors and developers, this could mean an increasing demand for local housing and educational infrastructure, potentially boosting property values. Appraisers and insurance agents should... Read more
Student-to-teacher ratio in Washington County, Virginia over the last 10 years
Washington County, Virginia has seen a fluctuating student-to-teacher ratio over the last decade, with notable decreases in recent years. In 2022, the ratio dropped to 11 students per teacher, well below the current national average of 14. This shift could indicate smaller class sizes, which might appeal to parents and educators aiming for more personalized attention in the classroom. For investors, builders, and real estate agents, this trend could signal a growing demand for local education infrastructure and housing, potentially driving up property values and development opportunities in the area. Appraisers and insurance agents might also find these trends useful for evaluating the changing needs and risk profiles of the community.
